S$3b money laundering case: Forfeited luxury goods, properties to go on auction from September
The properties will be auctioned off by real estate firms SRI, Edmund Tie and Knight Frank, while auction house Hotlotz handles the luxury goods.
More than 1,000 luxury items and 80 real estate properties seized in Singapore's S$3 billion money laundering case will be auctioned from September 7, according to audit firm Deloitte. Properties will be sold by firms SRI, Edmund Tie & Company and Knight Frank, while luxury goods auction house Hotlotz will handle the sale of items like jewellery, watches and handbags.
Some properties may be sold through an expression of interest process instead of traditional auctions. The assets will be sold in phases between September 2026 and mid-2027. The composition of items in each phase is still being finalized. The auctions will be held internationally, with bidders required to pass identity verification checks. Hotlotz founder Matt Elton emphasized the importance of transparency in the process.
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